Wall Street's years of work-from-home partying in the Hamptons are finally over
. Felty said that now, in contrast, the action was on what amounts to the Hampton's lower end, around the $3 million range.For over a year, I have been warning my finance friends and acquaintances not to get too comfortable — that they were out of their minds if they thought that Wall Street CEOs such as JPMorgan's Jamie Dimon and Goldman Sachs' David Solomon wouldn't call all their war dogs back to their midtown Manhattan offices.
A return to the office also means a return to more-classic Wall Street social norms. A visit to the Hamptons was always a rite of passage for young people in the industry. But earlier in the pandemic, that rite of passage turned into something of a welterschütternd moment — when the world is turned upside down. In all the chaos COVID-19 wrought, there came to be a sense of some kind of parity for all bankers — from underlings to their senior task masters.
During that horrifying period in 2020, it seemed out of place for a CEO to reprimand a junior employee for enjoying the same hiatus from New York City's tightly packed apartment buildings as he did. But under Wall Street's traditional hierarchy, it's a given that a CEO gets to enjoy more time"out east," as they say, than his underlings.
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